Tag US sanctions

Energy

Iran weighs $130 oil budget scenario as US blockade strands 50 tankers

Oil tanker docked at Al Basrah Oil Terminal in the Persian Gulf loading crude oil

Iranian media report that budget planners are considering a scenario of $130-a-barrel oil for the fiscal year starting March 2027, even as a US naval blockade has stranded at least 50 Iranian tankers in the Persian Gulf.

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October 28, 2026

Energy

Iran’s floating oil storage nearly empty as US naval blockade persists

Strait of Hormuz satellite view showing the strategic waterway between Iran and the Arabian Peninsula where oil tankers transit

Iranian crude held in floating storage has fallen to under 1 million barrels by mid-October, down from roughly 150 million barrels before Washington's blockade began in April, according to Kpler data.

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October 22, 2026